Vestas Sees Big Wind Turbine Orders In Asia
Date: 19-Nov-09
Country: SINGAPORE
Author: Leonora Walet, Asia Green Investment Correspondent
A Vestas wind turbine part sits on a truck during the ground-breaking ceremony for a new Vestas blade plant in Brighton, Colorado March 25, 2009.
Photo: Bret Hartman
SINGAPORE - Vestas Wind Systems said Wednesday it plans to announce significant orders for its wind turbines in the next five months, citing a pick-up in demand for wind power in Asia as more funding for projects becomes available.
"We're looking at substantial projects," said Vestas Asia Pacific president Sean Sutton, who declined to give further details.
"It's going to be a stronger start in 2010," said Sutton.
Like most in the sector, Vestas' sales growth slowed during the financial crisis as funding for projects collapsed. But the Danish wind turbine maker is banking on a rebound in clean energy to bolster order flows for 2010.
"The announcement (for the orders) will progress along this quarter and next," said Sutton.
Vestas' Asia unit, which counts Hong Kong power firm CLP Holdings and Australia's Roaring 40s Renewable Energy Pty among its clients, sees potential wind demand of 3,000 megawatts (MW) in the region.
"The outlook for wind is significant," said Sutton. "We hope to grow our business here provided policies become clear in Asia and finance markets open up."
Vestas Asia Pacific supports sales in Australia, New Zealand, Japan, India and the rest of Asia excluding China.
As of June, the unit has cumulative installed capacity of 4,189 megawatts, with more than half situated in India, according to the company's website.
(Editing by Jonathan Hopfner)
